Tata Teleservices Organizes an Exit Strategy for Employees

Tata Teleservices Organizes an Exit Strategy for Employees

The telecom arm of Tata Sons, TTSL (Tata Teleservices), is organizing an exit strategy for most of its 5,000 odd workers, which comprises a severance packages for those ready to leave in advance, notice of 3–6 Months, a VRS (voluntary retirement scheme) for elders, while transporting only a tiny part of its workers to other group firms.

Industry insiders and company executives claimed that the loan-laden telecom firm, which will conclude its operations shortly, had previous month requested circle managers to resign by the end of March 2018.

Tata Teleservices Organizes an Exit Strategy for Employees“The Tata Group has for all time taken care of its individuals, but very less will get engrossed in other group firms. It is unjust to burden other Tata firms with workers of TTSL,” claimed a senior administrator, who did not desire to be named. The transfer might only take place if there is a niche cluster of skills required in other companies that might match with those of workers in the telecom division. There might be VRS for the senior workers (above a specific age) that will be launched in the upcoming couple of months, claimed a senior administrator in the Tata Group. For bulk of the workers, the telecom division of the Tata Sons will provide a notice of minimum 3–6 Months and those who wish to go away can obtain the severance packages.

There were almost 5,101 workers as of March 31, 2017, on its rolls as per the recent yearly report. Search companies that are hunting into the telecom industry for profiles claimed that they have got resumes from circle managers who wish to resign the telecom company, and have been given a period to do so.

“Circles managers of TTSL whose resumes we are receiving have been given period till March 2018 and were informed regarding this in September 2017. If they resign now, they will be provided the salary for the rest of the months of this fiscal year,” claimed chairman of search company Headhunters India, Kris Lakshmikanth, to the media in an interview. The salary of a circle manager can be almost Rs 1 Crore.